Months of Inventory in Los Gatos Varies Widely Right Now

In Los Gatos 95030 and 95032 (*not the mountains, not Monte Sereno, not San Jose on the LG border) it is close to a balanced real estate market overall with about 5 months of inventory. Six months is considered balanced by the National Association of Realtors.  

But most houses don't have a market which is exactly like the "overall" market. Bank owned homes and short sales are selling best - it should be noted that there are not many of them!  Next are regular sales in entry level to moderate price ranges.  As the price climbs, so does the months of inventory or absorption rate for the Los Gatos real estate market.  Worst of all would be short sales priced at over $3,000,000 - they are not moving at all!

We could further fine tune it by lot size, school district, proximity to town etc. Often the hottest segmant of the market are the entry level homes with the best schools.  We didn't tease that out here today.... Schools are a big deal in Los Gatos, but some of it may be proximity to downtown rather than just the API scores since 1/3 of the kids in town attend private schools.  (The town of Los Gatos encompasses about 10 square miles. The farthest neighborhoods from downtown LG are about 4-5 miles and 15 or 20 minutes driving time at the worst, if one hits all red lights.)

For information on your neighborhood's market conditions, please contact me!

mary (at) popehandy.com or 408 204-7673